Markets.com Review

5 Rating
£100 Minimum Deposit
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Full Review

Markets.com is a worldwide FX and CFD broker. Established in 2008, Markets.com is managed by Safecap Investment Limited which is governed by both Cypriot Cysec and South Africa’s FSCA.Safecap Investment Limited is owned by a software development company known as Playtech. Many consider Markets.com as safe since its parent company, Playtech, is on the London stock exchange and is a constituent of the FTSE 250 Index.

Currently, the platform offers trading in over 2,000 assets such as CFDs, Forex, stocks, indices, cryptocurrencies, bonds, and ETFs. With over 5 million registered users, the platform gets about 13 million trades placed annually which translates to about $185 million in traded value. Additionally, Markets.com offers an innovative trading interface that appeals more to fundamental traders rather than technical ones.

Markets.com was founded in 2006 and became a certified forex broker in 2008. It has grown into a reputable broker in a short amount of time which has partly been enabled by partnering with high-profile partners in the industry. According to information acquired from Daytrading.com, markets.com has a number of awards under its belt including:

  • Award for best broker in Customer Service Europe 2012 (Global Banking and Finance Review)
  • Award for Best Customer Service 2012 (London Investor Show Forex)
  • Award for Forex Provider of the Year 2017 (UK Forex Awards)
  • Award for Best Forex Trading Platform 2017 (UK Forex Awards)

Markets.com Advantages and Disadvantages

Advantages

  • It offers low trading fees
  • The account opening process is extremely smooth and fast
  • Offers a variety of innovative research tools
  • It offers a broad variety of assets to trade
  • It offers an impressive MarketsX Web trader platform that’s beginner friendly and feature-rich.
  • It offers a wide range of trading tools and customer support options
  • Its mobile app seamlessly syncs with it web platform.
  • Offer a number of trading platforms including the proprietary web-based platform.
  • Global offices offer easy and flexible access to options such as higher leverage and/or bonus promotions.

Disadvantages

  • The platform offers no guaranteed stop-losses.
  • There are complains of hidden fees and costs
  • They have limited educational resources on their trading platform
  • They offer higher than average swap rates.
  • Their platform has weak news functionality.
  • They offer no weekend support. Only on business days.
  • Users from U.S., Canada, Belgium, Australia, Japan, and India don’t have access to the trading platform.

Supported Cryptocurrencies

Markets.com has support for trading Bitcoin Futures, Ethereum, Litecoin, Dash, Ripple, and Bitcoin Cash. However, traders can only trade cryptocurrency CFDs which means that they can’t directly hold any digital assets. For this reason, there’s no need to create a cryptocurrency wallet as you can manage all assets from the convenience of the platform. Additionally, cryptocurrency trading takes place 24/7 with Bitcoin futures taking a break between 22:00 and 23:00 GMT.

How to Register and Trade with Markets.com

Registering on the platform is a fairly simple and straightforward process. There is an instructional video on their site that takes you through the process in case it becomes difficult for anyone. Once you start registration, you’ll need to submit basic information such as your name, phone number, birthdate, and address. Later on, you will need to provide your financial and tax information. Lastly, there will be a few questions that gauge your trading experience and overall financial expertise in trading.

Once you register for an account, you’ll need to submit several documentations for verification. This is regardless of whatever office that you decide to register with. To do this, you need to log in into the registered account and head on to ‘Verification’. Once there, you will find a section where you can upload documents for proof of Residence and Identification (POR and POI). Valid documents for POI include national ID cards, passports, and driving license. For POR, the document can be any utility bill: water, electricity, gas, phone, cable, or internet, or a credit/debit card statement.

Just know that once your account is fully verified, you won’t be able to change your personal details again. Therefore, if you find yourself in a situation where you need to update any personal details, you may have to contact Markets.com support for help. Also, be prepared to provide them with additional papers to validate your requests.

Markets.com Accounts

Part of the registration process will be to choose between several account options. The accounts that you’ll have to choose from include:

  • Real Account: Anormal live trading account.
  • Demo Account: A practice account that is free and available for an unlimited amount of time.
  • Swap Free Account: An Islamic friendly account. Operates within the Islamic Sharia laws of interest-free trading.

All these accounts offer the same features such as webinars, daily market analysis, and 24-hour customer support with minute differences here and there.

How to Trade on Markets.com

For those who prefer a visual presentation of how to trade on Markets.com, their website offers a video walkthrough of how to make a trade. For those who prefer a written explanation, here are the steps:

  • Choose an asset using the list on the left side of the trading platform. Selecting an asset will make the asset appear at the center of the screen along with relevant information and values.
  • On the right side of the screen, you will see options for either buying or selling the asset. Click on buy if this is your first time buying a digital asset and on sell if you want to sell an asset that is in your possession.
  • A pop-up window will appear with details such as buy and sell prices, minimum trade sizes, trading trends, etc. At this point, you have the option to also choose “advanced” for more advanced trading types and options. Fill out the form and select “Place Order.”
  • Another option that you can use to execute a trade is by calling the Trading Desk directly and placing an order over the phone. However, be aware that the Trading Desk is only available in English.

Trading Platform

The Markets.com trading platform is available in several languages such as Arabic, English, and Spanish. Additionally, traders have the freedom and flexibility to choose whether to trade on their Markets.com online web platform or via their mobile application. With the Web Trader, you don’t need to download additional materials as everything such as tools and advanced features are readily available on the platform. With the mobile app, you may need to download a few things.

The mobile app is available for Android and IPhone users. The app is beginner-friendly and relies on excellent technology. The trading platform also supports trading with MetaTrader 5 (MT5) which is angreat option for expert traders. Additionally, the platform offers high level customization such as the choice between a dark or a light theme. To access these, head on to ‘My Account and Setting’ and then select ‘Platform Features.’

Regulation and Safety

Markets.com is a part of Tradetech Markets Pty Ltd which is located in Australia. Tradetech Markets Pty Ltd is overseen by the Australian Securities and Investments Commission.

Tradetech Markets Pty Ltd and Safecap Investments Ltd are both subsidiaries ofPlaytech PLC. Playtech is also listed on the LSE (London Stock Exchange) and is a part of the FTSE 250 Index.

In the Europe region, it is managed by SafecapInvestmets Ltd which is overseen by the FSCA and CySEC. Retail and professional clients in this region can access leverage of up to 1:30 and 1:300 respectively. There’s also Investor Compensation as high as 20,000 Euros.

In the African region, it is managed by TradeTech Markets Pty Limited South Africa. Therefore, it is overseen by the South African FSCA (Financial Sector Conduct Authority). Users in this region can access leverage of up to 1:300 and also get a first deposit bonus as high as 35%.

In Australia, it is managed by AutralianTradetech Markets Pty Ltd. It’s overseen by the ASIC. In Australia, users get access to leverage of up to 1:300 with a first deposit bonus as much as 20%. For all regions, Markets.com has a feature known as Negative Balance Protection which keeps clients’ funds in separate bank accounts for added protection.

Markets.com Fees and Limits

According to multiple complaints from users, the platform is expensive and is not as competitive with other industry leaders such as CMC markets or IG. Minimum spreads are above average. Digital currency minimum spreads are the highest in Europe at 140 pips for Bitcoin and 15 points for Ethereum.

Withdrawals are free and can be received between 2 to 5 business days. Accounts with three months of inactivity are charged about $10 per month. This fee is particularly hidden and isn’t as disclosed as the rest of the fees. Market.com keeps an updated list of all spreads and leverage limits on their website.

Markets.com Payment Methods

Markets.com offers a broad choice of deposit methods. These include:

  • Credit/Debit cards
  • Wire transfer
  • Skrill
  • Paypal
  • Neteller

The same methods of depositing above can also be used to withdraw. However, in a bid to stay compliant with money-laundering statutes, Markets.com insists that withdrawals be done via the same method used to deposit. Fortunately, it costs absolutely nothing to withdraw. Minimum withdrawal requirements are listed as follows:

  • You need a minimum of 10 USD/GBP/EUR to withdraw via a credit or debit card.
  • You require a minimum of 5 USD/GBP/EUR to withdraw via Neteller or Skrill.
  • You require a minimum of 100 USD/GBP/EUR to withdraw via wire transfer.

The withdrawal times vary depending on which payment method is being utilized. All of them lie around the same industry normal of a several business days which is often between 2-5 business days.

Markets.com Customer Support

It offers 24/5 support that’s accessible via chat or via a contact page on their official site. You can also find their ‘Contact Us’ page on their site at the bottom of the page or on the far-right corner of the ‘Support Center’ page. The ‘Support Center’ page also opens up to a FAQ along with their contact and chat links. The Markets.com Facebook and Twitter pages are used primarily for marketing and commentary.Moreover, since markets.com is global, it’s support is multi-lingual and comes in various languages such as Spanish, English, French, Italian, German, Arabic, and Bulgarian.

Features

Markets.com houses a range of additional research resources and materials that are particularly useful for beginner traders. All these resources are accessible on the Education section. Other services available on the platform include:

  • Trending Now
  • Market Consensus
  • Traders Trends
  • Events & Trade
  • Trading Central

All the above features are geared towards helping you learn how to trade, from spotting potential opportunities to conducting in-depth market research. Most of these tools can be accessed from within the trading platform in a verified account. Moreover, users can access live news feed directly from the platform.

Unfortunately, the platform doesn’t have provision for chat forums or rooms where traders can engage in social trading. It’s a shame because such features are particularly helpful for novice traders who want to exchange ideas and have difficult concepts explained. Additionally, the platform also doesn’t offer automated trading which can be helpful for times when traders need a break from trading.

Conclusion

Markets.com offers both beginner and expert investors the ability to trade about 2,200 assets from just one platform. Moreover, their account signup process is extremely quick and fast. Beginners have the added option of trying out a demonstration account to acquire a feel of the platform without losing their money. Their trading platform is user intuitive and offers a vast number of fundamental and technical analysis tools to users. Furthermore, the platform is multi-regulated in various regions and thus safe for trading.

BROKER INFORMATION

Website URL:
https://www.markets.com/

Languages:
English, Spanish, French, German, Turkish, Polish, Portuguese, Italian, Dutch, Chinese, Arabic

Instruments:
CFD, Forex, Crypto, Stocks

Demo Account:
Yes

Min. Trade:
$2

Regulated By:
Safecap regulated by FSB, CySec

PAYMENT OPTIONS

  • Credit/Debit cards
  • Wire transfer
  • Skrill
  • Paypal
  • Neteller